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Anglo American Plc (AGL)
Overall Trend:
Short-Term (1-10 Trading Days): Attempting a bullish reversal after a consolidation phase. This suggests a potential upward move in the very near future.
Medium-Term (2-4 Weeks): Attempting to rebound within a range. This implies a sideways movement with a general upward bias.
Long-Term (5-8 Weeks): Sideways range but attempting to advance, though conviction is not high. This suggests a potential upward move, but it may be slow and uncertain.
Key Takeaways:
The price action model indicates a mixed outlook for AGL.
In the short term, there's a positive signal suggesting a possible upward move.
In the medium-term, the price is expected to move sideways with a slight upward bias.
In the long term, there's potential for an upward move, but it's uncertain.
BHG Group (BHG)
Overall Trend:
Extremely Weak: The price action is currently very weak across all timeframes (7-day, 14-day, and long-term).
Short-Term (1-10 Trading Days): Very Weak: The price is in a clear downtrend. It is advised to wait for the price to stabilize on a lower timeframe before making any trading decisions.
Medium-Term (2-4 Weeks): Very Weak: The price is also in a downtrend in the medium term. Again, it is recommended to wait for stabilization on a lower timeframe.
Long-Term (5-8 Weeks): Very Weak: The long-term trend is also bearish. The advice is the same: wait for the price to stabilize on a lower timeframe.
Key Takeaways:
The price is currently in a strong downtrend across all timeframes.
It is not advisable to initiate any new trades until the price stabilizes.
Traders should focus on lower timeframes to identify potential entry points.
Glencore Plc (GLN)
Overall Trend:
Short-Term (1-10 Trading Days): Neutral.
Medium-Term (2-4 Weeks): General trend down now consolidating. Needs to show conviction on lower time frames.
Long-Term (5-8 Weeks): Very weak. Wait until it stabilizes on the lower time frame.
Key Takeaways:
The price is currently in a range-bound state.
A recovery is possible, but only if there's a strong bid and break of the current range high.
Long-term, the trend is weak, and it's best to wait for stabilization before considering buying.
Kumba Iron Ore (KIO)
Overall Trend: Very Weak
Short-Term Trend (1-10 Trading Days): Weak Bearish
Medium-Term Trend (2-4 Weeks): Very Weak Wait Until It Stabilizes On The Lower Time Frame
Long-Term Trend (5-8 Weeks): Very Weak Wait Until It Stabilizes On The Lower Time Frame
Key Takeaways:
The current trend for KIO is very weak across all timeframes.
The short-term trend shows a weak bearish bias.
The medium and long-term trends are also very weak, and the model suggests waiting for stabilization on lower timeframes before making any decisions.
South 32 (S32)
Overall:
Short-Term (1-10 Trading Days): S32 is attempting a rebound following a downward trend. It may consolidate further before continuing higher.
Medium-Term (2-4 Weeks): Lacks directional bias.
Long-Term (5-8 Weeks): Weak in a consolidation phase.
Key Points:
The short-term trend is bullish, suggesting a potential upward move.
The medium-term trend is unclear, indicating indecision in the market.
The long-term trend is bearish, suggesting a weaker market overall.
Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from the analyst's Tactical Trading Guide (Price Action Tool). The tool provides automated price analysis of over 90 JSE-listed equities across 17 sectors and across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action.
Lester Davids
Analyst: Unum Capital
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